The Spanish subsidiary of Li Ning, LN Plus Iberoamerica, is seeking to get payments from Spanish retailers and sponsored clubs to reduce the amounts owed to creditors, but it is not sure whether it will continue to operate in the country, according to a local fashion news website, moda.es. Last November, the company went into bankruptcy proceedings and transferred its wholesale activities to a big national distributor, Jorcani, which has since stopped selling Li Ning products. According to the report, Li Ning is still owed money for sports products supplied to three Spanish football clubs: Malaga FC, RCD Espanyol and Fiatc Joventut. Since its establishment in 2009, Li Ning has injected €2.68 million worth of equity into its Spanish subsidiary, headed up by Raúl de Pablo.

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